ORD CC 03/25/75 - Josey Lodge lease agreementORDINANCE NO. 75 -6
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY
OF HUNTSVILLE, TEXAS, AUTHORIZING THE APPROVAL
AND EXECUTION OF A LEASE AGREEMENT BETWEEN THE
CITY OF HUNTSVILLE AND THE JOSEY LODGE, INC.,
FOR A PERIOD OF TWENTY YEARS ON REAL ESTATE TO
BE USED FOR PARK, RECREATION AND RELATED PURPOSES
AND LEVYING A CONTINUING DIRECT ANNUAL AD VALOREM
TAX ON ALL TAXABLE PROPERTY WITHIN THE LIMITS OF
THE SAID CITY TO PAY THE COST THEREOF, AND PRO-
VIDING FOR THE ASSESSMENT AND COLLECTION OF SUCH
TAXES, AND PROVIDING AND APPROVING THE EFFECTIVE
DATE OF SUCH LEASE AND ORDINANCE.
WHEREAS, the City of Huntsville is in need of additional
real estate for park and recreation purposes and has the opportunity to
lease for public purposes certain real estate for a period of twenty
years in consideration of the payment of an annual consideration as
specified in a lease agreement purposed by owners thereof, which
lease would be in the best interest of the City of Huntsville and
in furtherance of the comprehensive recreation program for said
City; and
WHEREAS, the term of such lease is for twenty years thereby
creating a debt of said City not payable out of current funds thereby
requiring the levying of annual ad valorem taxes on all taxable
property within said city sufficient to meet such lease obligation
from year to year:
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF HUNTSVILLE, TEXAS, THAT:
Section 1: A twenty year lease between the City of Huntsville and
the Robert A. Josey Lodge, Inc., be approved for execution by the Mayor
of the City of Huntsville for the use of such premises described therein
by the said City for Park, Recreation and related purposes, said lease
so approved being attached to this ordinance as Exhibit "A ".
Section 2: While said lease is maintained for the period approved,
there shall be annually levied, assessed and collected in due time,
form and manner a tax upon all of the taxable property in said City
sufficient to pay the annual installments of rental as the same becomes
due, and thereis hereby levied a sufficient tax on each One Hundred
Dollars valuation of taxable property in the said City for the current
year and the same shall be assessed and collected and applied to the
purpose named; and while said lease is valid and in force, a tax each
year at a rate from year to year as will be ample and sufficient to
provide funds to pay the then current annual rental payment, shall
be and is hereby levied for each year, respectively, and said tax
shall each year be assessed and collected and applied to the payment of
said obligation. The City Council hereby declares and covenants
that it will provide and levy a tax legally and fully sufficient
for such obligation, it having been determined that the existing
and available taxing authority of the City for such purpose is
adequate to permit a legally sufficient tax in consideration of
all other outstanding obligations.
Section 3: The effective date of said lease agreement shall be
April 1, 1975, and terminating March 31, 1995, and the effective
date of th within ordinance shall be upon passage.
PASSED IN OPEN COUNCIL on this ,',, day of March, 1975.
AT7ER`` �
RUTH DeSHAW, City Secretary
OVED AS TO FORM:
THE CITY OF HUNTSVILLLE, TEXAS
Vat.
BY
ORRIS I. WALLER, Mayor
MARTIN D. COLLEY,
City Attorney